Nicosia, Jan 9 Construction work for the Abu Dhabi Polymers Park has already started and the first factory, which will produce artificial yarn, is expected to be ready on schedule.

The park will be a joint venture between the Abu Dhabi Polymers Park- a subsidiary of the government-owned Abu Dhabi Basic Industries Corporation - and Low and Bonar PLC, a performance material manufacturer of world renown.

Mohammed Hasan Al Qamzi, Senior Vice President of Abu Dhabi Polymers Park expressed satisfaction with the fact that the first group of factory buildings was being designed and built on time and according to the company's challenging plans.

"Abu Dhabi Polymers Park", he said, " is a new concept for the plastics industry in the region focusing on providing value-added services specifically for plastics converters. Since the official launch in June this year, we have had very strong interest from both regional and international plastics converters."

For his part, Low and Bonar PLC Group Chief Executive Paul Forman said: "This new venture will give us a strong position in one of the largest potential markets for artificial grass and will allow us to satisfy the significant growth in global demand. The Middle East is also one of the fastest growing areas for many of our other products such as specialist textiles used in civil engineering, where Low and Bonar already enjoys a world leading position."

Abu Dhabi Polymers Park is an industrial park spanning 4.5 km2 and is expected to generate up to $US four billion of investments in the plastics conversion industry.

With an expected total conversion of over one million metric tons of polymer per year, it will be the world's largest plastics conversion cluster. (ANI)